Topic: 2013-08-04 WSJ: Famed Trader Joe Lewis Backs Bitcoin (hoax) - page 6. (Read 15520 times)

Not if the "original" bitcoin is made illegal. The users can decide which chain they are a part of through client updates and such. Don't sit there and try to tell me that can't work. It absolutely can work. When FTC was forked, we had to update our clients to make sure we weren't on the forked chain, and many were, and were mining and transacting on the forked chain. They could fork the masses right off to a new chain and leave the original hanging with computer nerds and the sound money crowd who were fine with running an illegal chain. It. Can. Happen. Especially if the big players want it to happen, easily once they get everyone on board and the infrastructure built. So shut your ass.  


I am not just talking about a 51% attack. We are talking about using the majority of the mining base to fork the chain while altering the protocol on the fly to adopt to government regulations - they can change the max number of coins, just as they can alter the blocksize, etc. You need a mining base to maintain the particular network for each chain - that is why they would take over the mining infrastructure. But they also need to alter the protocol.

Taking over Bitcoin will be easy once the infrastructure is established AND the masses join... because the masses can be duped into anything. they will take it over, eventually, if allowed to. Whether or not we maintain the original in a black market is a different story.

Let's just take it for gospel that Avalon is getting $200M in VC to compete with BFL which is at best a $30-$40M GROSS sale company.

Do you realize that sales would have to be in the billions for a VC to even see the return of their principal, let alone profit/interest?

The only thing that would make since is if there's one or two too many zeros in that $200M figure.

Therefore, I see only two possibilities: Somebody fucked up the research or Bitcoin's being played.

Do you seriously have a learning disability that prevents you from understanding written English?

The subject of the sentence is "A group of companies that are pushing virtual currencies such as bitcoin..."

That can be rephrased as a single sentence: "A group of companies are pushing virtual currencies such as Bitcoin."

In that case the subject would be "A group of companies"

The object would be "Virtual currencies, such as Bitcoin"

and the verb would be "pushing"

"such as bitcoin" clearly refers to the virtual currencies the companies are pushing, as opposed to the companies themselves.

The section highlighted in red is also totally irrelevant.

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This is in addition to thinking that a twitter user who wrote that they were "not a WSJ reporter" was a WSJ reporter.

Yeah me too, plus trolls have a certain "feel" to them and TheInsiderMan just didn't have it.

Damn I don't even want to go to sleep right now, I want to watch New York wake up...

I do think it's more likely true than not, and that was on day 0 of the rumor when I first heard about it.

It'd make so much sense. Old Paypal founders already invested $2m into Bitpay. The Paypal CEO (or president?) already said he was looking into Bitcoin. The reddit post was removed pretty quickly (possible company letter threat? I don't know why a troll would remove a troll post if they didn't work at Paypal). It'd be easy for them to do so—they have the infrastructure needed to bring bitcoin into the mainstream. Why the hell not? Makes perfectly good business sense! Especially if Bitcoin has the potential to ruin their business model if they didn't adopt it! 'Sides, they already work between dozens of currencies, what's bitcoin to 'em?

This really does make me think about the Paypal rumour though...

No point in telling you since you are too dumb to understand it.


Exactly, you didn't understand it because you are really stupid. 

What is the obvious flaw, genius? I mean, just go ahead and spit it out... don't tease us.

I don't even know what the hell you are trying to say in the last comment. That just simply has no connection with anything I said.

Robin thinks Bitcoin is a company. But did learn for the first something new (read red).

http://24allnews.com/virtual-currency-enthusiasts-to-launch-self-regulatory-group-2/

You do not know what racism is then. I didn't say it was insider trading, I said he got his fortune through insider trading and using his connections within the central banking cartels. What I said, with regards to this story, was that if this story is true then he is making one of the first moves to gain control of the mining power of the network.

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For example, too dumb to see the obvious flaw with this theory.


And again, apparently too dumb to understand that the whole point of bitcoin is that no one has to "allow" you to use it. It's the kind of statement that only someone who isn't even capable of actually understanding bitcoin could make.

Sell all your bitcoins and buy BBQCoins or whatever if you don't like it.

Robin thinks Bitcoin is a company. But did learn for the first something new (read red).

http://24allnews.com/virtual-currency-enthusiasts-to-launch-self-regulatory-group-2/

You sir, are what I deem a racist. Makes sense, racists are very ignorant.

Let me ask you this: If this is all insider trading, and not through realizing opportunities that others do not see as the entrepreneurial spirit entails, tell me, oh tell me, what is he doing in bitcoin? What is this insider information that he is about to "thieve" a fortune from?

All they have to do is secure the mining power, fork the chain while altering the protocol to allow more bitcoins, tell the masses that any other chain is illegal and disastrous to society and there you go - job complete.

trader joe nor any of his zionist banker buddies should be allowed within an astronomical unit of a bitcoin mining operation under any circumstance.

You sir, are what I deem a racist. Makes sense, racists are very ignorant.